Dr Wilmot James MP presented the Democratic Alliance's economic growth strategy for South Africa to the Breakfast Indaba networking group in London last month.

South Africa’s Shadow Minister of Trade and Industry, Dr Wilmot James MP, presented the party’s economic growth strategy to the Breakfast Indaba in London last month.

Dr James said he really enjoyed the event. â€œI love meeting so many energetic and interesting entrepreneurs. Made me proud to be a South African,” he explained afterwards.

Here are some of the key points from his speech:

Creating jobs
Breaking down barriers to entry in the job market requires a wide-ranging, multi-faceted programme of reforms. The DA’s policy proposals in this area focus on creating incentives that encourage businesses to hire more people and also ensuring the delivery of high-quality education and training so that job-seekers have marketable skills.

Promoting economic inclusion
Proposals aimed at inclusive growth cover the following areas: financial incentives to enhance Broad-Based Black Economic Empowerment, legislative changes to make it easier for poor and low-income households to own their own homes and other assets and additional state assistance to expedite land reform and broaden ownership in the agricultural sector.

Enhancing South Africa’s competitiveness
Breaking down the barriers that keep the cost of living high, and protect economic insiders from competition from new and innovative entrepreneurs, will require a range of policy interventions that challenge established interests. It requires that we:

Increase budget allocations to the competition authorities and the National Consumer Commission, and increase their powers

Slash red tape so that it is easier for new entrants to start new businesses and grow

Create an environment that is conducive to innovation and entrepreneurship

Deepening trade and investment
Core proposals in this section that aim to facilitate the expansion of South Africa’s international trade and direct our resources towards growth-enhancing investments include:

Dramatically simplifying and reducing the number of documents and procedures requires to import and export goods

Opening additional consulates in high growth developing countries

Increasing infrastructure investment to 10% of GDP

Moderating government wage bill increases

Ensuring sustainability for future generations

Adopting a transversal approach to environmental management through integrating permitting and planning

Separating Eskom’s different functions to encourage competition and maximise efficiency

Investing in water storage and distribution infrastructure upgrades and expansion

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